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China’s Sunshine Insurance Group agrees to buy Starwood Capital’s Baccarat Hotel & Residences – New York for over $230 million, at record valuation in excess of $2 million per room. Situated opposite the Museum of Modern Art, at 5th Avenue and 53rd Street, Baccarat Hotel & Residences New York is the newest masterwork by renowned architects Skidmore, Owings, & Merrill. This instant icon houses 61 condominiums, inspired by Baccarat’s remarkable crystal and heritage, and brought to life by award-winning interior designer Tony Ingrao. Baccarat Residences is a private enclave in the heart of the city, dedicated to an unrivaled level of service and luxury. Residents have complete access to the amenities of the Baccarat Hotel, including a five-star restaurant, bars, spa, fitness and aqua centers, and a 24-hour concierge to anticipate residents’ needs down to the last detail. baccarat lobby baccarat pool http://baccaratresidencesny.com/]]>